Gucci Drives Kering’s Revenue Increase as Luxury Industry Struggles To Recover

Kering recently reported a double in revenues this quarter.

Fashion 
4,317 Hypes 2 Comments

French luxury conglomerate, Kering has reported a double increase in revenue for the second quarter of the year. Its sales are largely driven by Gucci, though the luxury industry continues to recover from the pandemic.

Prior to the middle of the year, the group’s comparable revenue surged to $4.93 billion USD, which marked a 95 percent up a tick from the previous year. The same number is also 11.2 percent higher than its stats in 2019. The second-quarter sales also saw an increase in the company’s e-commerce, driving the final number to rise by 97.9 percent. Kering faced particularly strong performances in North America, with sales surging 263 percent and Asia-Pacific with 53 percent.

Gucci’s performance stood out with the first half of sales increasing to 45.8 percent. Yves Saint Laurent also showed promising signs of success during the pandemic with sales in the first half of the year increasing by 53.5 percent to $1.24 billion USD. Bottega Veneta was also up 40.6 percent to $838.63 million USD.

In a recent statement, François-Henri Pinault, CEO of Kering said, “Kering delivered excellent performances in the first half and resumed its trajectory of strong, profitable growth. All our Houses contributed to a sharp rebound in total revenue, which comfortably exceeded its 2019 level, with a remarkable acceleration in the second quarter.” The evident growth in the brands have shown sure signs of recovery for the luxury industry amidst of the pandemic.

In other fashion news, HYPEBEAST took a look back at Kim Jones’ boundary-breaking collabs.

Read Full Article

What to Read Next

Gucci and Balenciaga Are Rumored To Unveil a Collaboration
Fashion

Gucci and Balenciaga Are Rumored To Unveil a Collaboration

At the Italian fashion house’s upcoming “Aria” collection presentation.

Kering Brands See Growth Slump as Gucci Sales Drop 10% in Fourth Quarter
Fashion 

Kering Brands See Growth Slump as Gucci Sales Drop 10% in Fourth Quarter

Shares in the conglomerate dropped eight percent Wednesday morning.

Gucci Was the Most Bought and Resold Luxury Brand of 2021, According to The RealReal
Fashion

Gucci Was the Most Bought and Resold Luxury Brand of 2021, According to The RealReal

With Louis Vuitton, Chanel, Prada and Dior in the top five.


Kering's Revenue Dropped Nearly 30 Percent in 2020's First Half
Fashion 

Kering's Revenue Dropped Nearly 30 Percent in 2020's First Half

Gucci’s revenue took the biggest hit.

Baskin-Robbins Celebrates the 2021 Tokyo Olympics With Gold Medal Ribbon Ice Cream
Food & Beverage

Baskin-Robbins Celebrates the 2021 Tokyo Olympics With Gold Medal Ribbon Ice Cream

Your chance to go for gold.

Campbell's Redesign Its Iconic Soup Can for the First Time in 50 Years
Food & Beverage

Campbell's Redesign Its Iconic Soup Can for the First Time in 50 Years

They are also releasing 100 Campbell’s-certified NFTs.

Grand Collection Unveils a Fall 2021 Collection With Understated Wares
Fashion

Grand Collection Unveils a Fall 2021 Collection With Understated Wares

With a lookbook featuring team-riders Buggy Talls and Brian Reid.

Rihanna Announces Upcoming Fenty Perfume Release
Fashion

Rihanna Announces Upcoming Fenty Perfume Release

“That’s the thing I love the most: it’s an experience, it’s a memory, encapsulated into a fragrance.”

Netflix Acquires Will Smith Action-Thriller ‘Fast & Loose'
Entertainment

Netflix Acquires Will Smith Action-Thriller ‘Fast & Loose'

Netflix won the major bidding war that involved Paramount, Sony, MGM and Warner Bros.


Post Malone Announces Posty Fest 2021 With Additional Second Day
Music

Post Malone Announces Posty Fest 2021 With Additional Second Day

Returning to Arlington, Texas.

Coca-Cola Auctions First NFT Collectibles Inspired by Video-Game Loot Boxes
Art

Coca-Cola Auctions First NFT Collectibles Inspired by Video-Game Loot Boxes

Proceeds will be donated to the Special Olympics.

Google's Parent Company Alphabet Sees 62% Revenue Surge in Q2 2021
Tech 

Google's Parent Company Alphabet Sees 62% Revenue Surge in Q2 2021

Reaching heights of $61.9 billion USD.

The 'Die Hard' Prequel 'McClane' Has Been Officially Cancelled
Entertainment

The 'Die Hard' Prequel 'McClane' Has Been Officially Cancelled

We won’t be meeting the young John McClane.

Round Two and 2G Connect for "ROUND2G" Capsule Collection
Fashion

Round Two and 2G Connect for "ROUND2G" Capsule Collection

Menswear arbiters Sean Wotherspoon and Poggy unite for a joint capsule.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.